Federated Hermes Inc. Has $199.34 Million Stake in Prologis, Inc. (NYSE:PLD)

Federated Hermes Inc. grew its holdings in Prologis, Inc. (NYSE:PLD) by 326.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,774,932 shares of the real estate investment trust’s stock after purchasing an additional 1,358,542 shares during the quarter. Federated Hermes Inc. owned about 0.19% of Prologis worth $199,343,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Nordea Investment Management AB increased its position in Prologis by 380.0% in the 1st quarter. Nordea Investment Management AB now owns 333,022 shares of the real estate investment trust’s stock valued at $43,046,000 after acquiring an additional 263,649 shares in the last quarter. Swedbank AB increased its holdings in shares of Prologis by 9.2% in the second quarter. Swedbank AB now owns 5,002,274 shares of the real estate investment trust’s stock valued at $561,805,000 after purchasing an additional 420,687 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Prologis by 36.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 162,990 shares of the real estate investment trust’s stock worth $18,305,000 after purchasing an additional 43,235 shares during the last quarter. Atalanta Sosnoff Capital LLC acquired a new position in Prologis during the 4th quarter worth $18,551,000. Finally, US Bancorp DE boosted its position in Prologis by 6.5% in the 1st quarter. US Bancorp DE now owns 676,912 shares of the real estate investment trust’s stock valued at $88,148,000 after buying an additional 41,469 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Prologis Stock Down 0.3 %

NYSE:PLD opened at $130.35 on Friday. The company has a market cap of $120.68 billion, a PE ratio of 38.11, a PEG ratio of 3.27 and a beta of 1.07. The stock has a 50-day simple moving average of $124.11 and a 200 day simple moving average of $118.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a 52-week low of $96.64 and a 52-week high of $137.52.

Prologis (NYSE:PLD) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the company posted $1.83 EPS. The business’s revenue for the quarter was down 18.1% compared to the same quarter last year. On average, sell-side analysts expect that Prologis, Inc. will post 5.42 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.84 annualized dividend and a yield of 2.95%. Prologis’s dividend payout ratio is 112.28%.

Insider Buying and Selling at Prologis

In related news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now owns 13,187 shares in the company, valued at approximately $1,702,046.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLD. Morgan Stanley boosted their target price on Prologis from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Mizuho cut their target price on shares of Prologis from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Bank of America reiterated a “neutral” rating and set a $128.00 price target on shares of Prologis in a research report on Monday, August 12th. Evercore ISI increased their price objective on shares of Prologis from $122.00 to $124.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Finally, Royal Bank of Canada lowered shares of Prologis from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $124.00 to $127.00 in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prologis currently has a consensus rating of “Moderate Buy” and an average target price of $133.12.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.